Lenovo Aspires to Use Blockchain Tech in Document Validation System

A recent patent filed by Lenovo implies that the Chinese technology company will be able to include blockchain tech in a system that verifies the validity of physical documents. The blockchain tech will work as a verification program for the authenticity of physical documents, building a digital map of the document, undersigned with a digital signature.

Last Thursday, the U.S. Patent and Trademark Office (USPTO) published the
application, under which Lenovo explains the development of a fintech layout employing digital signatures installed in physical documents, which can be used to confirm the legality of a document.

"Using the security blockchain, anyone can validate that they have the current authentic physical document even if multiple paper copies exist and multiple people have made entries in the chain of modification. If any forgeries exist, they will show up as orphaned blocks in the chain. To validate a paper copy, a user of the electronic device takes a picture of the printed code on the physical document," Lenovo reported.

Lenovo Fintech Innovations

Lenovo designs an "integrity map" for the document from an "integrity symbol", like a digital signature, for example, within it. Then the system compares the newly-created document with the integrity map, solving the question of its authenticity. It shows whether it is real or fake.

Blockchain has the integrity map installed within its tech, thus receivers
can verify the integrity of the documents when they are delivered. A picture of a document can be applied effectively to create its integrity map, which can then be compared with the integrity map, being initially the original one.

A Step Forward to Security Modification

The main obstacle Lenovo has on its way is a need to find a way for editing printed documents after their signing by hand. The financial market giant explains that companies require some warranties, ensuring that the documents have had no changes. Nevertheless, many still refuse to use crypto signatures. So, that poses a necessity for technology which can be able to prevent falsifying physically printed documents after they have been signed.

"When a paper document is physically signed with an ink pen and then scanned, faxed or emailed, there is no assurance that the text of the document was not substantially altered after the signature was applied," said
Lenovo.

Related Stories

Some analysts from Bloomberg Intelligence (BI) anticipate that Bitcoin (BTC) will "fall further," as reported by Bloomberg. Various crypto sector pundits have already started calling this the cryptocurrency winter.

Popular blockchain and crypto enthusiast hasn’t lost faith in financial technology and digital currencies, such as bitcoin, ripple, and ethereum. He is confident in the suggestion that cryptos will replace fiat currency in its primary position during 2020-2030.

A Japanese Financial Services Agency (FSA) spokesperson revealed a plan for acquiring full control over the manner in which crypto wallet providers conduct their daily activities. The measures however are not yet implemented, as of press time.